Community Trust Bancorp, Inc. Announces Execution of Management Succession Plan
January 26 2022 - 4:30PM
Business Wire
Community Trust Bancorp, Inc. (NASDAQ: CTBI), parent company of
Community Trust Bank, Inc. and Community Trust and Investment
Company, with offices in Kentucky, West Virginia, and Tennessee,
today announced that the Board of Directors have unanimously
elected M. Lynn Parrish as Chairman of the Board of Community Trust
Bancorp, Inc. In addition, Mark A. Gooch, current President, was
elected as CEO and Vice Chairman of Community Trust Bancorp, Inc.
and Chairman and CEO of Community Trust Bank, Inc. and Chairman of
Community Trust and Investment Company; Richard W. “Rick” Newsom
was elected President and member of the Board of Directors of
Community Trust Bank, Inc.; David Tackett was elected Executive
Vice President of Community Trust Bancorp, Inc. and President of
the Eastern Region of Community Trust Bank, Inc.; Wayne Hancock was
elected Secretary of Community Trust Bancorp, Inc.; and John “JR”
Caldwell was elected Market President of Community Trust Bank, Inc.
for Floyd, Johnson, and Knott Counties replacing Mr. Tackett. All
of the above officer elections are effective on February 7, 2022,
the date of the retirement of the current Chairman and CEO, Jean R.
Hale, as previously announced in July 2021. These elections are
representative of CTBI’s attention to strong succession
management.
Mr. M. Lynn Parrish has served as lead independent director of
Community Trust Bancorp, Inc. since January 25, 2005 and has been a
member of the Board since 1993. Mr. Parrish is currently serving as
Chairman of the Compensation Committee and is a member of the Audit
and Asset Quality Committee, Nominating and Corporate Governance
Committee, Executive Committee, and Risk and Compliance Committee.
Mr. Parrish is a diversified entrepreneur having co-founded
numerous companies involved in mineral development, engineering,
software development, technology, and media. Mr. Parrish’s
entrepreneur success is evidenced by the co-founding of Coal Mac in
1978, and its sale to a public company in 1989, and Knott Floyd
Land Company, which Mr. Parrish served as Chairman and President
prior to its acquisition by a private equity fund in 2006. Mr.
Parrish, an active community leader, currently serves on the Boards
of the Leadership Institute for School Principals, CEDAR, Inc., and
Kentucky Workforce Innovation and the Board of Trustees of the
University of Pikeville. His previous community service included
serving as a member of the Boards of the Kentucky Chamber of
Commerce and Pikeville Medical Center.
Mr. Gooch was named President of Community Trust Bancorp, Inc.
in July 2021 and previously served as President and CEO of CTBI’s
primary subsidiary, Community Trust Bank, Inc., since July 1999 and
will continue to serve as CEO and Chairman. Mr. Gooch joined CTBI
in 1987 with the first acquisition made by Community Trust Bancorp,
Inc. (FKA Pikeville National Bank). He served as President of that
subsidiary until all bank subsidiaries were merged into Community
Trust Bank, Inc. in 1997, at which time he came to the corporate
offices as Executive Vice President/Operations, then in 1999 was
named President and CEO of CTBI’s primary subsidiary, Community
Trust Bank, Inc. Mr. Gooch, an active community leader, serves with
many community and state organizations including currently as
Chairman of One East Kentucky, a member of the Board of Directors
of the Kentucky Chamber of Commerce, a member of the Economic and
Industrial Development Board for the City of Pikeville, and a
member of the Board of Directors for the Big Sandy Add District.
Mr. Gooch’s 41 years of banking and community experience will serve
him well in his new role with CTBI.
Mr. Newsom, with 43 years of banking experience with Community
Trust Bank, Inc. previously serving as President of the Eastern
Region, Senior Vice President of Corporate Retail Banking, and Vice
President of Retail Banking, has risen through the ranks after
starting as a Teller and Branch Manager. Mr. Newsom is very
involved within the community serving as an elder for Cornerstone
Christian Church and a member of the Board of Directors for City of
Pikeville Foundation Board and Pikeville Medical Center Foundation
Board. His community service spans many years and has included past
Chairman of the Southeast Kentucky Chamber of Commerce and past
President of the Rotary Club.
Mr. Tackett has 35 years of banking experience, the last 30
years with Community Trust. During his tenure, Mr. Tackett has
served as Market President for Floyd, Johnson, and Knott Counties
and as a branch manager. Mr. Tackett is very active in these
communities currently serving on the Floyd County Recreation,
Tourist, and Convention Commission and as Chairman of the McDowell
ARH Advisory Board. Mr. Tackett is a past Chairman of the Floyd
County Chamber of Commerce, past Director of the Big Sandy Region
of the American Red Cross, and a past Board member of the
Prestonsburg City Commission.
Mr. Hancock is currently an Executive Vice President and
corporate counsel for Community Trust Bancorp, Inc. and has been
with CTBI for 13 years. Previously, he was an attorney in private
practice for six years and a public defender for two years.
Mr. Caldwell has over 22 years of banking experience with
Community Trust Bank, Inc. He has worked in retail banking in both
the branch network and indirect lending.
“We are fortunate as a company to have an outstanding management
team and a strong succession management plan to facilitate a smooth
leadership transition,” Ms. Hale said. “Mark and his team are
prepared to continue the company’s long history of growth and
profitability.”
Community Trust Bancorp, Inc., with assets of $5.4 billion, is
headquartered in Pikeville, Kentucky and has 70 banking locations
across eastern, northeastern, central, and south central Kentucky,
six banking locations in southern West Virginia, three banking
locations in northeastern Tennessee, four trust offices across
Kentucky, and one trust office in Tennessee.
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version on businesswire.com: https://www.businesswire.com/news/home/20220126005982/en/
Mark A. Gooch, President of Community Trust Bancorp, Inc. At
(606) 437-3229
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